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TWeb had an OS update go bad and had to be restored to a previous state. We've lost two days worth of posts so you all get a do-over.

Btw, carnage in the bond market continues. Whether this is a sign of the bond market bursting or not, it's something I warned about here. It's not really Trump's fault though, as these bubbles were already ripe for the pricking. The three bubbles to keep an eye on is the stock, bond, and derivative bubbles.

Heard some interesting debate about gold today.

1 Tim 2:5 For there is one God, and one mediator between God and men, the man Christ Jesus.

That's one thing I disagree with Pete on, is his stance on gold. But he's just one among a number of "gold bugs" that are deluding themselves. The thing about the gold and silver stacking community (though I don't necessarily put Schiff in this category) is that they stack gold and silver because they believe an economic apocalypse is coming where the dollar completely collapses and all hell breaks loose. The problem with that logic is that if and when that happens, gold and silver will be worthless. The common man and woman in the western world is going to be worrying about how to eat and protect themselves than to be concerned about acquiring gold and silver.

I remember a guy who used to hold up a "twenty dollar gold piece" and say something like.... "in 1820, this would buy a man's suit, tie and shoes". Then he would hold up a $20 bill and say "today, this $20 bill would barely buy the tie, but this twenty dollar gold piece will still buy a man's suit, tie and shoes".

In a drastic situation, however, yeah, you can't eat gold.

1 Tim 2:5 For there is one God, and one mediator between God and men, the man Christ Jesus.

I remember a guy who used to hold up a "twenty dollar gold piece" and say something like.... "in 1820, this would buy a man's suit, tie and shoes". Then he would hold up a $20 bill and say "today, this $20 bill would barely buy the tie, but this twenty dollar gold piece will still buy a man's suit, tie and shoes".

In a drastic situation, however, yeah, you can't eat gold.

I wouldn't recommend eating $20 bills, either.

Enter the Church and wash away your sins. For here there is a hospital and not a court of law. Do not be ashamed to enter the Church; be ashamed when you sin, but not when you repent. – St. John Chrysostom

...Trump wants to both cut taxes but increase government spending (i.e. build up defense, create infrastructure jobs, better care for vets, etc.) at the same time. This is impossible unless he does one of three things:

A) Massively, and I mean massively, cut current government programs, including pensions and social security to free up enough money to fund his projects

B) Default/restructure the existing debt

C) Borrow the money

Trump could increase production in the USA, increase expenditure on infrastructure & the military, cut taxes and make foreign goods more expensive simply by devaluing the US$. And that could be done by printing money. In fact, Trump could implement dual currencies, one external and one internal - it has been successfully done by other countries for a time. As long as the cost of living and standard of living is stagnant or better for the average citizen all is good. The downside for some people is imports and overseas travel would be more expensive, the plus side is there would be revitalisation (read foreign investment) in manufacturing those goods currently imported and an increase in domestic tourism.

Internationally, for my country and others there is a big downside to this scenario = our currencies would increase in value against the US$, which would have a major impact on international trade.